Hit by analysthttps://www.stockhouse.com/news/newswire/2015/02/02/scotia-revises-oil-and-gas-forecasts-drops-stock-price-targets-for-t-nbz-t-pmt-t#Jz0szBYqzdEyGiQu.99
Scotia Capital has dropped its stock price targets for a handful of energy companies after revising its outlook for oil and natural gas.
For natural gas, the investment firm has decreased its 2015 and 2016 forecasts to US$3/mcf and US$3.50 mcf respectively, both from US$4/mcf.
Scotia has also lowered its 2015 WTI forecast for oil to US$50 per barrel from US$75. The 2016 and 2017 forecasts have been revised to US$83 per barrel and US$88 per barrel to US$60 and US$70.
In keeping with the investment firm’s outlook for oil and gas, Scotia Capital analyst Patrick Bryden has slashed his stock price target on Northern Blizzard Resources Inc. (TSX: T.NBZ, Stock Forum) to $9.50 from $20.
He has also changed his rating on the stock to Sector Perform from Sector Outperform. “In our view the current macro environment and outlook for heavy oil in particular will present challenges for reinvestment efficiencies and cash flow growth,’’ he said.
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Ever wonder why SP is down in an up market? This **cking analyst.
How good are those analyst slashing price targets by more than half? Downgrade at these times?
Not bad 9.5 target with WTI 50!!!!